Approval clears the way for Fresh Del Monte to acquire prepared and packaged foods businesses as well as global ownership of the Del Monte brand
Fresh Del Monte Produce has today (9 February) announced that the US Bankruptcy Court has approved it as the purchaser of select assets of California-based Del Monte Foods Corporation II and its affiliates through a court-supervised sale under Section 363 of the US Bankruptcy Code.
The Court’s decision represents a ”decisive legal milestone” that clears the transaction to advance into the pre-closing phase, Fresh Del Monte noted.
”With the approval in place, a key procedural step has been achieved, providing increased certainty as Fresh Del Monte completes customary regulatory reviews, including Hart-Scott-Rodino clearance, and satisfies remaining closing conditions,” it stated.
As previously disclosed, the purchase price is US$285mn, plus the assumption of certain liabilities.
Further details on the transaction’s strategic and financial impact will be provided following closing, Fresh Del Monte explained, consistent with standard practice.
The company said it expects the transaction to close in the first quarter of 2026, subject to these approvals.
Upon closing, Fresh Del Monte will acquire select prepared and packaged foods businesses, including vegetable, tomato, and refrigerated fruit assets, as well as global ownership of the Del Monte brand, subject to existing regional licensing arrangements.
”With this milestone complete, Fresh Del Monte is focused on executing the remaining steps toward closing in a disciplined manner and advancing the transaction into its next phase,” the company added.
